For a second time, Danske Bank is under investigation in France for suspected money-laundering transactions worth €21.6 million (U.S. $24.4 million) committed between 2007 and 2014.
AML
Posted inEurope
EU expands controversial AML country blacklist
The European Commission adopted its proposed new blacklist of countries that it has identified as having significant deficiencies in their anti-money laundering and counter-terrorist financing regimes.
Posted inEurope
Danske Bank provides update on AML probe in France
Danske Bank said it might again become subject to a formal investigation in France, instead of being an assisted witness, in connection with an ongoing investigation into organised money laundering of tax evasion proceeds.
Posted inEurope
Will the EU improve its monitoring of money-laundering threats?
EU ambassadors on 19 December 2018 agreed to give the European Banking Authority (EBA) more power over anti-money-laundering supervision for financial institutions, but some doubt the effectiveness of these measures.
Posted inAccounting & Auditing
SEC plans focus on internal controls at year-end
Given big changes companies are undertaking in their accounting processes, staff at the SEC plan to pay special attention to internal controls.
Posted inAML
Arachnys launches CRI cloud-native platform
Customer Risk Intelligence (CRI) solutions provider Arachnys announced the launch of its CRI cloud-native platform designed to address Know Your Customer (KYC) and Anti-Money Laundering (AML) challenges.
Posted inTechnology
Regulators give nod to AI, emerging tech for AML programs
Federal bank regulators are encouraging banks to use artificial intelligence and other emerging technologies to bolster their AML compliance programs. In doing so, new guidance addresses an evolving liability and enforcement posture.
Posted inAML
AML programs continue to vex banks in cost, complexity
Forget all that talk of deregulation. Compliance officers at financial institutions are still knee-deep in risk and spending nearly $26 billion a year on anti-money laundering programs and other demands of the Bank Secrecy Act.
Posted inAML
Danske Bank CEO quits over money laundering failures
The chief executive of Denmark’s biggest financial institution has resigned following the publication of a report that highlights large-scale money laundering in the bank’s Estonian operations.
Posted inEurope
EU proposes new money laundering rules
The European Commission wants to strengthen supervision over banks and other financial institutions to toughen up its fight against money laundering and terrorist financing after admitting that present measures have “failed all too often.”
